Pepe-PEPE recently gained positive momentum in the crypto market with its price rising 12% over the past 24 hours; it is currently trading at $0.000009 supported by its huge daily trading volume of $968 million.
Despite a recent slight price drop of 0.64%, Bibi currently ranks 25th thanks to its current high price and market capitalization of $3.78 billion; Baby, with a traded supply of 420.69 trillion coins, has caused a stir among traders and investors alike.
Read also :A small cryptocurrency is poised for a long-term rally
Baby Technical Analysis: Critical Levels to Watch
The four-hour chart of Baby price shows that its technical levels stand at a crossroads, with its price oscillating between two major trend lines. The downtrend line also limited its current gains at $0.00000986, making it a key resistance level.
On the other hand, the ascending trend line offers strong support near the $0.00000814 level, securing the price from a potential sell-off.
The Relative Strength Index (RSI) also fell slightly, but remains above 50 in a sign that bulls (price speculators) continue to dominate the market, and positive general mood continues even as buying momentum slows slightly.
The 50-day Exponential Moving Average (EMA-50) indicator is below the current PEPE price of $0.00000830 forming a variable support level, which can play a pivotal role in preventing further decline and providing a point of confidence for traders.
The price of PEPE is up 12%, what are its next moves?
Should Baby fall below the support level at $0.00000814, the next key support zone to watch will be $0.00000751.
Pepe Price Update: On the 4-hour chart, $PEPE is at a critical technical crossroads. Key levels to watch: resistance at $0.00000986 and strong support at $0.00000814. Will bulls push it higher? #PepeCoin #CryptoAnalysis #BTC pic.twitter.com/vAQWGAa5zi
However, a breakout above the $0.00000931 resistance level could spark buying interest again, prompting it to test higher resistance levels.
Conclusion: Is it possible to raise the price of PEPE to $10?
If the price consolidates above the support level at $0.00000814, the uptrend is likely to continue, targeting $0.00000931 and above, traders should keep an eye on these levels for any potential bullish opportunities.
While the $10 price target seems very ambitious, continued momentum and positive public mood suggest that it could deliver huge gains in the near term.
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